If You Have Insurance

How can My Health and Money help?

Even with insurance you can expect to have out-of-pocket medical expenses with most policies. Especially when the trend is moving in the direction of high-deductible health plans, which means you're going to pay a higher share of the cost for both your insurance and care. In fact, the average cost of a group policy for a family of four is now $13,750.

So how much do I pay a year?

Deductibles, premium contributions, and non-covered expenses vary by insurance plan, but here's an example of what your out-of-pocket costs could look like in any given year:

• $13,750 annual group plan premium (based on 2010 average)
• $2,750 (your costs - 20% of premium for employer-sponsored coverage)
• $1,000 (deductible level)
• $1,500 (out-of-pocket expenses for either items that aren't covered or are over your deductible)

Family budget consideration: $5,250/year or $437.50/month, which could be much higher if someone in your family has a chronic condition.